TOBA TEK SINGH, April 4: Several cotton ginning mills in the district are facing financial worries as a result of reduction in its price. The cotton season had ended on March 15. A Cotton Ginners Association official said here on Tuesday until a month ago, cotton lint was being sold by the ginners at Rs2,500 per maund (37 kilograms) but as there were not much buyers in the market its price started lowering. At present, it was fetching a maximum of Rs2,300 per maund.

He said the Cotton Trading Corporation was also not purchasing bales from the ginners with the excuse that it had already got stocks of old bales, which it had purchased during last year at a rate of Rs2,100 from the ginners and now it was selling it to spinning mills at Rs2,200 per maund.

He stated that it was a fact that at least two million less bales were produced in the country owing to bad crop compared to last season’s production when 146 million bales were produced. Despite this the lint rates was decreasing day by day.